Debt (Tables)

12 Months Ended

Dec. 31, 2015

Long-term debt and capital lease obligations included in the consolidated balance sheets consisted of (in millions):


	December 31,
	2015		2014
Secured
2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 (a)	$	1,867	$	1,872
2014 Credit Facilities, variable interest rate of 3.50%, installments through 2021 (b)		743		750
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 (c)		980		990
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 (c)		588		594
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2017 to 2027 (d)		8,693		7,028
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.63% to 8.48%, maturing from 2016 to 2027 (e)		4,183		2,952
Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 (f)		1,080		1,100
AAdvantage Loan (g)		—		433
Other secured obligations, fixed interest rates ranging from 3.60% to 12.24%, maturing from 2016 to 2028 (e)		923		994

		19,057		16,713

Unsecured
5.50% senior notes, interest only payments until due in 2019 (h)		750		750
6.125% senior notes, interest only payments until due in 2018 (i)		500		500
4.625% senior notes, interest only payments until due in 2020 (j)		500		—

		1,750		1,250

Total long-term debt and capital lease obligations		20,807		17,963
Less: Total unamortized debt discount and debt issuance costs		246		243
Less: Current maturities		2,231		1,677

Long-term debt and capital lease obligations, net of current maturities	$	18,330	$	16,043

The table below shows availability under revolving credit facilities, all of which were undrawn, as of December 31, 2015 (in millions):

At December 31, 2015, the maturities of long-term debt and capital lease obligations are as follows (in millions):

Specifically, the Company is required to meet certain collateral coverage tests on an annual basis for three credit facilities, as described below:


	2014 Credit Facilities	2013 Credit Facilities	2013 Citicorp Credit Facility
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual (1)

LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.5x Collateral valuation to amount of debt outstanding (66.7% LTV)

LTV as of Last Measurement Date	24.1%	33.6%	57.8%
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and London Heathrow	Generally, certain slots, route authorities, and airport gate leasehold rights used by American to operate all services between the U.S. and South America	Generally, certain LGA slots, certain spare parts, certain simulators, certain leasehold real estate assets and cash

(1)	With respect to spare parts, one physical appraisal and one desktop appraisal are required in each fiscal year.

Long-term debt and capital lease obligations included in the consolidated balance sheets consisted of (in millions):


	December 31,
	2015		2014
Secured
2013 Credit Facilities, variable interest rate of 3.25%, installments through 2020 (a)	$	1,867	$	1,872
2014 Credit Facilities, variable interest rate of 3.50%, installments through 2021 (b)		743		750
2013 Citicorp Credit Facility tranche B-1, variable interest rate of 3.50%, installments through 2019 (c)		980		990
2013 Citicorp Credit Facility tranche B-2, variable interest rate of 3.00%, installments through 2016 (c)		588		594
Aircraft enhanced equipment trust certificates (EETCs), fixed interest rates ranging from 3.38% to 9.75%, maturing from 2017 to 2027 (d)		8,693		7,028
Equipment loans and other notes payable, fixed and variable interest rates ranging from 1.63% to 8.48%, maturing from 2016 to 2027 (e)		4,183		2,952
Special facility revenue bonds, fixed interest rates ranging from 2.00% to 8.00%, maturing from 2016 to 2035 (f)		1,051		1,071
AAdvantage Loan (g)		—		433
Other secured obligations, fixed interest rates ranging from 3.60% to 12.24%, maturing from 2016 to 2028 (e)		922		993

		19,027		16,683

Unsecured
Affiliate unsecured obligations		27		27

		27		27

Total long-term debt and capital lease obligations		19,054		16,710
Less: Total unamortized debt discount and debt issuance costs		228		228
Less: Current maturities		2,234		1,678

Long-term debt and capital lease obligations, net of current maturities	$	16,592	$	14,804

The table below shows availability under revolving credit facilities, all of which were undrawn, as of December 31, 2015 (in millions):

The table below shows availability under revolving credit facilities, all of which were undrawn, as of December 31, 2015 (in millions):

At December 31, 2015, the maturities of long-term debt and capital lease obligations are as follows (in millions):

Specifically, American is required to meet certain collateral coverage tests on an annual basis for three credit facilities, as described below:


	2014 Credit Facilities	2013 Credit Facilities	2013 Citicorp Credit Facility
Frequency of Appraisals of Appraised Collateral	Annual	Annual	Annual (1)

LTV Requirement	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.6x Collateral valuation to amount of debt outstanding (62.5% LTV)	1.5x Collateral valuation to amount of debt outstanding (66.7% LTV)

LTV as of Last Measurement Date	24.1%	33.6%	57.8%
Collateral Description	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate certain services between the U.S. and London Heathrow	Generally, certain slots, route authorities and airport gate leasehold rights used by American to operate all services between the U.S. and South America	Generally, certain LGA slots, certain spare parts, certain simulators, certain leasehold real estate assets and cash

(1)	With respect to spare parts, one physical appraisal and one desktop appraisal are required in each fiscal year.